The New York Times Newspaper’s Strategic Management Report

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Executive Summary

The New York Times case study is closely associated with the aspects of the increased competence level, and the increasing rates of electronic publishing. Originally, the main problem is covered in the strategy, performed by the New York Times CEO. Thus, the analysis and recommendations will be focused on the issues of strategic management and business strategy implementation, considering various aspects of business performance. The key aspect of the analysis will be closely linked with the evaluation of the print media industry, as the entire sphere is experiencing decline, and the business shares of publishers have decreased. SWOT analysis of the New York Times is aimed at defining the positive and negative sides of business strategy and the company in general, considering the internal and external aspects of the strategy. The recommendations part is aimed at considering all the analysis aspects, and providing all the required recommendations for improving the business performance.

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Recommendations

Considering the analysis of the business performance, and the related aspects of the publishing business, there is a strong necessity to emphasize that the New York Times should focus on the issues of strategic management and the aspects of the increased competition in the sphere of periodicals. In accordance with Warner (2010), it should be stated that strategy formulation is the priority one task for restructuring the business performance within any organization. Considering the aspects, associated with strategic aims and objectives, it should be stated that the values of the strategic change are closely associated with the managerial tactics, and techniques, resorted to by the CEO. Thus, as it is stated in Betz (2001, p. 67):

Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors. Then it reassesses each strategy annually or quarterly to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment, or a new social, financial, or political environment.

In the light of this consideration, the only recommendation is required for improving the business performance of the New York Times, should touch upon the issues of business and industry control. When all the processes are controlled strictly and definitely, the problems are clearly observed. Nevertheless, internal control is not sufficient, as, in accordance with the previously stated consideration, the environmental factors should be taken into consideration. Thus, the environmental factors entail the extensive development of electronic publishing, and this niche is extensively conquered by the competitors. Thus, the company needs to satisfy the needs and requirements of the devoted audience. Newspaper delivery or mailing will be required for this, thus, the company should get back to traditional marketing tools, and develop the innovative tools simultaneously. (Kranch, 2004)

The fact is that organization is required to create the measures, for solving the problems and implementing new strategies. Originally, there is a strong necessity to include the focus on a balanced set of Bottom Line results measures including such factors as financial resources, customer satisfaction, the satisfaction of employees, and the overall contribution to society. In accordance with Scott (2008, p. 129) there is a strong necessity to emphasize the following statement:

Key operational measures are extremely important as well. Most organizations can track one-two daily measures (such as % of sales of the issued newspapers) and can project from that pretty well how they are doing financially.

Nevertheless, regardless of the measurement of the problems, some other steps should be performed. In accordance with six sigma tools, these measures are:

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  • Defining the problem. What area of the industry requires improvement, and what should be done to eliminate the problem. (low sales)
  • Measurement. To control the changes, the measurement system is strongly required. Otherwise, the effectiveness of the performed measures will be undefined. (amount of the sold media production)
  • Implementation. When the solution is found, and the measurement is defined, the implementation stage is required. This step presupposes the utilization of the resources, which are necessary for the implementation of the solutions. (Improve the quality of the printed content, increase the operability of the reporters team)
  • Control. The implemented tools and measures should be controlled and properly monitored in order to exclude failures of the system. (encourage workers to work faster, and arrange the reporting system)
  • Analysis. When all the actions are implemented, and the measures defined, the particular changes should be seen. These changes should be analyzed from the perspective of the stated aims and goals, whether they correspond the initially defined requirements. (define the precise period of time, and analyze the sales level) (Web-Based Media Management System Powers Learning Process, 2004)

Conclusion

Considering the issues of the media industry, the New York Times is one of the leaders in this sphere, nevertheless, the increasing competency, and development of electronic media market have caused the decrease of sales. The provided analysis and recommendations are intended to increase the sales levels, and improve the quality of the issues media.

Reference

Betz, F. 2001. Executive Strategy: Strategic Management and Information Technology. New York: John Wiley & Sons.

Kranch, D. 2004. Media Management Systems Improve and Grow. T H E Journal (Technological Horizons In Education), 18(4), 6

Scott, R. K. 2008. Human Resource Management in the Electronic Media. Westport, CT: Quorum Books.

Warner, C. (Ed.). 2010. Media Management Review. Mahwah, NJ: Lawrence Erlbaum Associates.

Web-Based Media Management System Powers Learning Process. 2004. T H E Journal (Technological Horizons In Education), 26(10), 38.

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IvyPanda. 2021. "The New York Times Newspaper's Strategic Management." December 16, 2021. https://ivypanda.com/essays/the-new-york-times-newspapers-strategic-management/.

1. IvyPanda. "The New York Times Newspaper's Strategic Management." December 16, 2021. https://ivypanda.com/essays/the-new-york-times-newspapers-strategic-management/.


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IvyPanda. "The New York Times Newspaper's Strategic Management." December 16, 2021. https://ivypanda.com/essays/the-new-york-times-newspapers-strategic-management/.

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